In today's digital era, the online world has become an essential part of our daily lives. From communication and entertainment to shopping and banking, everything has shifted to the virtual space.

Financial resilience means having a business that not only earns enough income to stay operational, it has money set aside to get through tough times. Building your cash reserves is a vital move that ensures your business can survive changes in the market or unexpected emergencies. Along with increasing your income, financial business resilience also involves managing your expenses, improving efficiencies, and making strategic financial decisions.

Intangible assets often make up the ‘secret sauce’ of your business, such as the certain way you do business, your customer database, how your customers like to buy, budget cycles, or recipes, and processes and trade information you don’t want to make public.  

It makes sense to be aware of and track your main financial indicators. The more you observe what the numbers are doing, the faster you’ll see what’s working and what isn’t, so you can take immediate action. 

The aim of all small business owners should be to have more money coming in than going out. From shortening your cash cycles to managing debt, there are several methods for getting on top of your cash flow. And once you’ve got it firmly in hand, you’ll experience greater freedom and opportunities to grow your business. 

Most businesses seek to increase their profit year to year. Here are five cumulative ways you can look to increase your bottom line.